MCX intraday forecast 17 Nov 2014

MCX Bullion view

MCX GOLD Dec. expiry future last closed at 26427 with gain. In intraday mcx gold future’s high was at 26448 while low was at 2585. Total 900-rupee intraday range and closed with gain. Here expect another short covering rally.

MCX SILVER Dec. expiry future last closed at 35852 with gain. In intraday mcx silver future’s high was at 35852 while low was at 33908. Total almost 1900-rupee intraday range and closed with gain. 35,400 is trailing stop loss for long positions.

MCX metal view

MCX ALUMINIUM Nov. expiry future last closed at 125.75 with loss. In intraday mcx aluminium, future hit high at 126 while low was at 124. Total 2-rupee intraday range and closed with loss. For intraday stay short with stop loss 127 for target 124.

MCX COPPER Nov. expiry future last closed at 415.25 with gain. In intraday mcx, copper future made high at 416 while low was at 407. Total 9-rupee intraday range and closed with gain. Stay long with stop loss 409.

MCX LEAD Nov. expiry future last closed at 125.9 with gain. In intraday mcx lead future’s high was at 126 while low was at 123. Total 3-rupee intraday range and closed with gain. Buy near 121-122 zones.

MCX NICKEL Nov. expiry future last closed at 961.8 with gain. In intraday mcx nickel future’s high was at 965 while low was at 944. Total 21-rupee intraday range and closed with gain. Buy near 940 with stop loss.

MCX ZINC Nov. expiry future last closed at 139.2 with gain. In intraday mcx zinc, future hit high at 139 while low was at 137. Total 2-rupee intraday range and closed with gain. Above 138, keep long view.

MCX Energy view

MCX CRUDEOIL Nov. expiry future last closed at 4646 with gain. In intraday mcx crude oil, future hit high at 4666 while low was at 4524. Total almost 130-rupee intraday range and closed with gain. For swing traders 4800 is stop loss for much downside target. Trend change expected above 4800 on sustainable basis.

MCX NATURALGAS Nov. expiry future last closed at 247.9 with loss. In intraday mcx natural gas, future made high at 250 while low was at 243. Total 7-rupee intraday range and closed with loss. below 250 rupee, keep bearish view for long terms.

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